I'm getting about a 1/4" low tear in my paper (bareshaft) and I've maxed out my adjustment on my rest. The only thing I can thing I think I can do is adjust my nock point.

I'm also getting bad peep sight twisting after having some serving redone on my cables this week, and I'm not having much luck chasing the twist with my loop (which is what the guy at the bowshop advised, he is filling in for Tom Boatwright part time at World Champion Outdoors in Atmore). I picked it up yesterday 15mins before closing time, and he had a guy ready to buy a $140 sight, so I got out of the way, and let him take care of that sale.

So two questions:

1) is it worth trying to move my loop myself or do I need to take it somewhere? (Never done it before), and which way should I move it to correct a low tear?

2) when my peep sight was installed they had to slide it down a little to where my anchor point required...I suspect this might be causing the twisting. Should I keep chasing the twist with my loop or do I just need to have the thing reset altogether?

You need to carry it back to them.